Ocean City Proposes Spending $112 Million On Capital Improvement Projects

OCEAN CITY, NJ — Ocean City officials are proposing spending $112 million on capital projects in the upcoming year, according to published reports.

The $112 million is $13.7 million higher than the outlook adopted by city council last year, according to the Ocean City Gazette.

The projects city officials would like to tackle include the renovation and expansion of the public safety building. Overall, $51 million would be set aside for projects in 2017, $20 million in 2018, and about $13 million each year for the next three years after that.

The plan brings with it a tax increase of about $250 on homes assessed at $500,000 over the next five years, at about $50 each year, according to ocnjdaily.com.

The local property tax rate increases by about one penny per year. Most of the major work would take place over the next year, and the local tax rate would increase by about 2.5 cents to 3 cents in 2017.

Projects are set to take place across the city, and come in response to citizens asking for long-neglected projects to be completed on every part of the island.

The proposal was made during Ocean City Council's first workshop session on this year's budget Tuesday night at the library.